Senior Counsel - Reinsurance / Insurance Claims and Alternative Risk Transactions

Nationwide Mutual Insurance•Columbus, OH

1d•Remote

About The Position

If you're passionate about being part of a diverse organization that enables a company with nearly $70 billion in annual sales to deliver innovative business solutions with excellence, then Nationwide's Legal team could be the place for you! At Nationwide®, “on your side” goes beyond just words. Our customers are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care. This position will be a critical member of a Reinsurance / Insurance Claims and Alternative Risk center of excellence within Nationwide’s Office the Chief Legal Officer (OCLO) and will support such matters throughout the Nationwide enterprise. This position involves providing specialized legal and regulatory expertise to support (re)insurance coverage analysis and (re)insurance claims / litigation, manuscript drafting of insurance policies, and external audit matters. This position will also provide significant support for reinsurance transactions, and alternative risk financing strategies for Property & Casualty and Financial Services. The successful candidate will have experience in various areas related to insurance, reinsurance, and risk management. Would you thrive in an environment where you can deliver top-quality legal services to support the goals and objectives of a Fortune 100 insurance and financial services company? If you possess the legal education, skills and expertise needed to provide outstanding service, advice, and counsel, we want to hear from you! As Senior Counsel, you'll independently provide expert advice and counsel on highly complex legal matters to senior-level leaders. We'll count on you to create valuable risk management recommendations by actively identifying and logically assessing potential legal risks in ambiguous, unique and/or the most complex business situations which have the greatest potential for significant impact to the company.

Requirements

Juris Doctorate from an American Bar Association-accredited law school.
Associates reporting within Nationwide’s OCLO who are functioning in attorney roles must be fully licensed in accordance with OCLO policy, in good standing and in compliance with all continuing legal education requirements at all times in the state(s) in which they practice.
Typically has 15 or more years of relevant legal experience. May have management experience. Has significant experience with or knowledge of one or more areas of law, complex legal practices and procedures, project management concept and techniques. Considered a subject matter authority within his or her areas of legal expertise. Sound business acuity and knowledge of the business goals and objectives as they relate to the matter at hand.
Strong verbal and written communication skills for contacts interacting with all levels within OCLO and with business partners. Analytical ability to interpret statutes, regulations, insurance policies and other contracts. Decision-making ability to set work priorities and make recommendations. Ability to lead cross-functional projects. Ability to lead, initiate, organize and coordinate highly complex projects and/or cases. Takes the lead role in negotiations that are complex, strategic, or sensitive in nature. Supervisory skills useful. Significant professional and/or civic involvement.

Responsibilities

Corporate Risk Management: Familiarity with various property & casualty insurance products, including general liability, auto liability, property, workers’ compensation, excess & surplus lines, management specialty lines insurance – E&O, D&O, fiduciary liability, surety, credit insurance, etc. and drafting manuscript endorsements. Identify, assess, and mitigate legal risks across the organization and develop strategies to protect the company's interests. Provide legal advice on corporate governance, regulatory, compliance, and risk management for captive insurance programs.
Insurance and Reinsurance coverage, claims, and dispute resolution matters: Advise on coverage issues and (re)insurance recoverable strategies. Drive pursuit of insurance and reinsurance claims, drafting demand letters, providing strategic advice, oversight, and management of outside counsel over arbitration and litigation matters. External Audit matters: Identify and evaluate material matters for disclosure working across the organization and with external counsel, issuing audit letters Familiarity with Model Audit Rule Negotiate various engagement letters with auditors
Reinsurance, Fronting Arrangements, and Alternative Risk Financing: Review and negotiate reinsurance and fronting agreements, including ancillary agreements, and advise on issues involving reinsurance intermediaries, program administrators, third party administrators, trusts, multinational insurance programs, etc. Address legal and regulatory issues, including license, registration, collateral, tax, etc. Advise on the establishment, regulation, and ongoing governance and administration of reinsurance entities and captive insurers. Advise on alternative risk financing mechanisms, including captives, structured insurance solutions, insurance -linked securities and notes, catastrophe bonds, and other innovative solutions. Evaluate the legal and regulatory implications of alternative risk structures.
Bermuda and Other Offshore Reinsurance Regulations and Transactions: Navigate international regulatory frameworks for cross-border reinsurance transactions. Analyze legal and compliance aspects of global reinsurance operations working with other areas of expertise, including privacy, tax, trade and economic sanctions, and other- regulatory implications.
Provides the highest level of subject matter expertise for legal specialties on significant, high-risk, or highly complex legal matters. Regularly attends business partner meetings to better understand business processes and needs. Identifies and logically assesses potential legal risks. Creates risk management/mitigation recommendations using sound risk assessment information to further achievement of business objectives. Drafts necessary legal documents and develops conclusions and recommendations. Regularly interacts with senior leaders in Office of the Chief Legal Officer (OCLO) or the company on legal matters within area(s) of legal expertise. Has input into or influence on company decision-making. Creates practical and effective solutions to the most complex legal issues with no established precedent; develops creative solutions to unique legal problems; has significant interaction with persons outside of the company. Takes the lead role in matters that are highly complex, strategic, or sensitive in nature. Understands the business partner's position and needs. Keeps senior leaders and appropriate management of company informed of case law and new legislation, as appropriate. Considers the long-term business and strategic consequences of possible outcomes. Delivers difficult messages or news, and challenges business partners when necessary; responds to challenges to advice and counsel directly and effectively. Brings a broad network of established relationships, both internal and external, to the organization, particularly in recognized areas of subject matter expertise. Works independently and may lead teams to resolve highly complex legal and organizational issues. Makes recommendations about and ensures compliance with approved outside counsel budget. Hires and develops talent, provides consistent coaching and feedback

Benefits

medical/dental/vision
life insurance
short and long term disability coverage
paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date
nine paid holidays
8 hours of Lifetime paid time off
8 hours of Unity Day paid time off
401(k) with company match
company-paid pension plan
business casual attire